WholesaleInvestor

05 July 2010

Qbiotics - QBiotics closes $10m capital raising in 26 days

QBiotics Limited, a QLD based life-sciences company, has successfully raised $10m through an Offer Information Statement. The offer opened on the 27th May and closed over-subscribed on the 21st June 2010.

QBiotics first listed with Wholesale Investor in May of 2010. The CEO of QBiotics, Dr Victoria Gordon was very pleased with the result, as well as the support and promotion provided by Wholesale Investor.

“We were delighted with the progression of the raise and extremely impressed with the high level of professionalism, support and exposure that Wholesale Investor brought to the project” said Dr Gordon. “The funds will be used to fast-track development of our anti-cancer drug EBC-46 into Human Trials.”

“Using Wholesale Investor significantly boosted our exposure directly to investors who are serious about investing,” Dr Gordon added. “We received over 200 enquiries directly from their website. Of all the promotion we did, the most successful was via Wholesale Investor due to both the nature of their targeted investor database and the timeliness of investor response. Any business seeking capital would be wise to consider Wholesale Investor as part of their capital raising strategy.”

EBC-46, which was discovered in 2004 in the seed of a fruit from the Nth QLD Rainforest and is in development for the treatment of solid tumours in companion animals and humans. The drug is about to enter Clinical Phase III type studies in animals, having proven to successfully reduce or destroy solid tumours in over 150 dogs, cats and horses in Phase II type studies, and is in late stage preclinical development for the human market. Should EBC-46 prove to successfully work in humans, the value of the drug would be substantial due to its potentially broad market application and the added benefit of having no significant negative side effects (as demonstrated in animals studies).

Funds have come from private individuals, high net worth and professional investors. The success of the capital raising means QBiotics now has sufficient funds to complete Phase I and potentially part of Clinical Phase II Human Trials without the need for a further capital raising.

Although human life-science investments have the potential for high returns, these investments are traditionally risky. However, QBiotics has the “safety net” of a veterinary drug nearing revenue where the global market is estimated at over $900m per annum.

QBiotics CEO Dr Victoria Gordon says “moving forward into Human Clinical trials is an important milestone in the progress of the company. EBC-46 has shown real-world “proof of concept” in animal trials and we are excited that we now have the funds to take EBC-46 into human development”.

For Further information on Qbiotics opportunity please click following link: http://www.wholesaleinvestor.com.au/public_panel/listing_detail/qbiotics_limited/?id=140